Julius Baer will make a provision for possible settlements with the U.S. authorities over a tax dispute as soon as it knows more about how it is being investigated, Boris Collardi, the chief executive told CNBC.

The UK government moved a step closer to selling off its stakes in the bailed-out banks with the appointment of JP Morgan Cazenoze to advise on the possible sell-off of shares in Lloyds Banking Group and Royal Bank of Scotland.

The Goldman Sachs employee who ran the firm’s mortgage correlation trading desk testified that Fabrice Tourre failed to tell investors about the role of Paulson & Co. in the deal at the center of the U.S. Securities and Exchange Commission’s fraud case against him.

Credit Suisse was sued for more than $350m by entities of Highland Capital Management LP who claim it marketed loans for high-end residential communities including the Yellowstone Club in Montana based on unreasonable and deceptive appraisals.